20% Flat Tax

Today, Senator Arlen Specter, the senior senator of Pennsylvania, introduced legislation that would scrap the 17,000 pages of current IRS code in favor of a 20 percent flat tax for all individuals and businesses. The revenue-neutral legislation would allow tax-payers to file returns on a postcard that could be completed in 15 minutes.

“We talk frequently about the burden of regulation in the federal government, the most onerous of which is the tax regulation,” Senator Specter said. “My flat tax legislation will fundamentally revise the present tax code with its myriad rates, deductions and instructions, and will make filing a tax return a manageable chore, not a seemingly endless nightmare.”

Naturally this bill is going to NOWHERE. But it’s long been a dream of mine. Awesome.

I believe one of the signs of the apocolypse are my Senators doing the right thing (by my mind) two days in a row….